Note: This story has been corrected from its original version. The Economic Research Service initially inverted the import and export numbers for August, skewing the overall totals for the fiscal and calendar years.
The U.S. agricultural trade surplus was $812.6 million in August, the highest monthly surplus for 2019 since February’s mark of $929 million, according to data compiled by USDA's Economic Research Service. In three of the past five months, the U.S. has registered a trade deficit.
Exports in August totaled about $11.3 billion while imports were nearly $10.5 billion.
The August numbers kept the surplus for the year at about $809 million, instead of, as ERS initially reported, a deficit of $816 million.
In 2018, the U.S. had an ag trade surplus of $10.9 billion. That followed surpluses of $20.2 billion in 2016 and $17.2 billion in 2017.
The U.S. Meat Export Federation said August pork exports increased 22% from a year ago to 221,586 metric tons, while export value climbed 19% to $588.8 million.
“These results pushed January-August export volume 4% ahead of last year’s pace at 1.7 million mt, while value increased 1% to $4.35 billion,” USMEF said.
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